Weakened, Nikkei Monitor Movement Dollar
Japanese stocks fell today observed 0.7% to 17590.79 position. Trading volume was relatively small in the middle of the decline in the exchange rate of the US Dollar.
Exchange rate USD / JPY is now at 118.43. Looks weaker dollar against major world currencies such as the Euro and the Yen since the escalation of the crisis between Greece and the European Union began to show a bright spot. Sentiment ‘risk on-off’ is still very pronounced on the trading floor because every bad news about the economy and world politics is always translated into action ‘be safe’.
Nikkei spot itself is long enough to get caught in the middle of the range of 16000 and 17000 areas of the upper and yet strong enough to get out of the range. Moreover, the momentum of strengthening the dollar began to subside and the results of company’s income statement has been absorbed by the market participants. No catalyst capable of pushing out of the zone index movement. Nikkei futures contract is currently observed in position 17 570.
Technically, the index on the trading session today, Tuesday (10/02) is likely to strengthen, test positive trend. At the M15 chart bullish hammer formation provides opportunities for the index to move upside. However, the volume of which is likely to increase, as well as an early indication of bullish index. In addition, RSI, the M15 chart, are oversold, signaling upside.
It is estimated, the index test the first resistance level of 17 625 and 17 575 17675. If you fail, then the next index is expected to tend to reexamine the level of support that is 17550 and continued until the possibility of being in the 17500 area.
Euro Gains Limited
The euro traded higher against the US dollar is limited try to focus on positive reports from Germany and the Eurozone consumer confidence and trying to rule out the possibility of tensions related to a Greek exit from the Eurozone or ‘Grexit’.
Germany reported a surplus in the balance of trade far exceeds the expectations of the previous month’s report. The difference between the exporting and importing countries in the euro zone’s largest economy in January bolted to 21.8 billion euros, 18.2 billion euros exceeded expectations and report the previous month’s 17.9 billion euros. Consumer confidence in the euro zone by Sentix also add good news for the Euro. Consumer confidence jumped to a level of 12.4, much higher than expectations that the rate will be at the level of 3.4 and the level of the previous period to 0.9.
Meanwhile, the Greek debt-related developments seen weighing on strengthening Euro. British Prime Minister, David Cameron, reportedly will lead an emergency meeting together with the Ministry of Finance and the Bank of England officials to discuss a possible Greek exit from the Euro zone. Earlier, Prime Minister of Greece signaled plans to end the bailout program in a speech at the same time lead to tensions in the euro zone.
The currency pair EUR / USD is now trading around 1.1325 with daily lows 1.1269 and 1.1358 daily highs.
Technically, today’s trading session on Tuesday (10/02), the pair Euro-dollar likely to move in a positive trend.
The strengthening of the Euro mainly expected soon reexamine the minimum resistance at 1.1385 and 1.1435 maximum. Meanwhile, if the Euro was unable to break and stays below 1.1339 then another alternative scenario that Euro chance to test support in 1.1300 and 1.1250 area.
Gold Maintain Sparkle Central Impasse In Greek
Gold maintain gains on fears that the standoff between the new Greek government and the creditors may deteriorate, with German Chancellor Angela Merkel sinyalakan little willingness to compromise on the bailout terms.
Gold this morning traded at $ 1,240.80 / onz at 08:40 pm of $ 1,239.03 on Monday, when prices rose by 0.4%. Gold fell by 3.9% in the last week as the US economy added more workers in January than economists forecast, raising speculation that the Federal Reserve will move closer to a rate hike since 2006.
German leaders said that they would not give more aid to Greece without strings attached, and the deadlock would risk leaving the country with the highest debt levels in Europe is to not have the funds at the end of this month, when the current bailout will end. Greece will seek to raise about 10 billion euros ($ 11.3 billion) in short-term financing remedy push prevent a cash crisis, when they seek to encourage creditors to ease the demand for savings, according to a government official who asked not to be identified.
“The political tension in Greece has spurred demand for safe-haven assets,” said an analyst at Australia & New Zealand Banking Group Ltd. “In this year, investment in the stock ownership of the memperdagangan gold has risen 5%, with another rise achieved last week.”
Investment holdings in the SPDR Gold Trust rose on Friday became 1.677.88 metric tons, it is the highest level in four months. Total assets expanded in January for the first time since July.
Technically, gold trading session today, Tuesday (10/02) the potential reversal, tested positive trend, but prone to taking profit. RSI indicator tends to re-test resistance and aiming the bullish channel, but Bollinger Bands that began to shrink, thus giving impetus to the gold to the downside.
It is estimated that the gold price immediately prior to test resistance in the area of at least 1248.00 and re-test the maximum level of 1253.87. However, if the price of gold was unable to break and stays below 1243.40 then estimated the price of gold could potentially test the 1240.78 and 1235.40 Support.
